Sonoco Products (NYSE:SON) was upgraded by equities research analysts at Wells Fargo & Co from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm currently has a $60.00 price objective on the industrial products company’s stock, up from their prior price objective of $48.00. Wells Fargo & Co‘s target price indicates a potential upside of 22.10% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. DA Davidson raised shares of Sonoco Products from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Friday, April 17th. Argus raised shares of Sonoco Products from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Wednesday, April 22nd. Deutsche Bank dropped their price objective on shares of Sonoco Products from $61.00 to $52.00 and set a “hold” rating for the company in a research note on Thursday, April 16th. KeyCorp reaffirmed a “hold” rating on shares of Sonoco Products in a research note on Tuesday, April 14th. Finally, BMO Capital Markets raised shares of Sonoco Products from a “market perform” rating to an “outperform” rating in a research note on Friday, March 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $55.13.

SON stock traded down $0.11 during trading on Thursday, hitting $49.14. The stock had a trading volume of 357,600 shares, compared to its average volume of 530,881. The company’s 50 day moving average price is $47.89 and its two-hundred day moving average price is $54.12. Sonoco Products has a 1-year low of $37.30 and a 1-year high of $66.57. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 3.03 and a beta of 0.81. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.11.

Sonoco Products (NYSE:SON) last announced its earnings results on Thursday, April 16th. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.10. Sonoco Products had a net margin of 5.61% and a return on equity of 20.13%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that Sonoco Products will post 3.25 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. increased its position in Sonoco Products by 4.2% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 4,435 shares of the industrial products company’s stock worth $274,000 after purchasing an additional 178 shares in the last quarter. Lido Advisors LLC increased its position in Sonoco Products by 3.6% during the 4th quarter. Lido Advisors LLC now owns 5,437 shares of the industrial products company’s stock worth $336,000 after purchasing an additional 190 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in Sonoco Products by 1.1% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 18,560 shares of the industrial products company’s stock worth $1,146,000 after purchasing an additional 200 shares in the last quarter. O Shares Investment Advisers LLC boosted its holdings in Sonoco Products by 1.4% in the 4th quarter. O Shares Investment Advisers LLC now owns 17,221 shares of the industrial products company’s stock worth $1,063,000 after acquiring an additional 236 shares during the period. Finally, ProVise Management Group LLC boosted its holdings in Sonoco Products by 6.7% in the 4th quarter. ProVise Management Group LLC now owns 4,718 shares of the industrial products company’s stock worth $291,000 after acquiring an additional 295 shares during the period. 72.11% of the stock is owned by hedge funds and other institutional investors.

About Sonoco Products

Sonoco Products Company manufactures and sells industrial and consumer packaging products in North and South America, Europe, Australia, and Asia. The company operates through four segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment offers composite and thermoformed plastic round and shaped rigid containers and trays; extruded and injection-molded plastic products; printed flexible packaging products; brand artwork management; and metal and peelable membrane ends and closures.

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Analyst Recommendations for Sonoco Products (NYSE:SON)

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